Diageo plc (NYSE:DEO) Sees Large Growth in Short Interest

Diageo plc (NYSE:DEO) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 1,160,000 shares, an increase of 19.0% from the January 15th total of 974,900 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is presently 1.0 days.

Hedge Funds Weigh In On Diageo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DEO. Canoe Financial LP boosted its holdings in Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Diageo by 234.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company’s stock valued at $330,627,000 after acquiring an additional 1,822,994 shares during the period. Bank of Montreal Can boosted its holdings in shares of Diageo by 1,181.5% in the fourth quarter. Bank of Montreal Can now owns 1,406,004 shares of the company’s stock valued at $178,745,000 after acquiring an additional 1,296,285 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Diageo in the fourth quarter valued at approximately $123,892,000. Finally, FMR LLC boosted its holdings in shares of Diageo by 10.9% in the fourth quarter. FMR LLC now owns 5,813,938 shares of the company’s stock valued at $739,126,000 after acquiring an additional 571,873 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD Cowen boosted their price objective on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Diageo presently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

Shares of Diageo stock traded down $1.93 on Friday, reaching $107.45. 864,158 shares of the company were exchanged, compared to its average volume of 1,096,495. The stock’s 50 day moving average price is $121.08 and its 200-day moving average price is $125.99. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.60. Diageo has a 1-year low of $105.72 and a 1-year high of $154.71.

Diageo Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be issued a $1.62 dividend. This represents a yield of 3.8%. The ex-dividend date is Friday, February 28th.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.